News and resources for Canada's top financial advisors
It’s imperative that each goal be specific, measurable, attainable and tangible. The formulation of your goal should also be a direct reflection of your mission statement.
While computers, smartphones, and tablets have made goal trackers irrelevant for some, it would be wise to think twice before completely giving up on pen and paper. Statistics show that those who have written goals have an 80% higher success rate than those who don’t.
What benefit will you receive from achieving your goal? You can take it a step further and ask what losses will be avoided should you achieve your goal. Visualize what it will be like to achieve your goal.
There’s nothing like being prepared for an unexpected situation and having all the tools you need to deal with it successfully.
Having a step-by-step plan of action is where most will fall short.
If there are people who will be positively affected when you achieve your goal or who will keep you motivated, involve them in your planning process. You’ll benefit from all the cheerleading, encouragement and coaching along the way.
A simple Excel spreadsheet with a dashboard and chart for each goal is a great method to track and visually see your progress. Be sure to keep separate dashboards for both personal and business goals.
Use the driving force behind your goals to help propel you to where you want to be and what you want to gain from your business.
This formula is nothing new. There is plenty of training available to help with this planning, but how effective is it? Success within our industry is a combination of many factors, but the most important is attitude. The top performers all share similar habits—as do the bottom performers. To reverse the failure rate in the financial services industry, people must be willing to change their attitude.
Tyrone Matheson, FMA, is a business and personal development coach and CEO of Inside Out Training, a firm dedicated to helping individuals, organizations and their teams achieve personal and professional excellence. In addition to his monthly column in Advisor’s Edge Report, Tyrone also has a regular newsletter that offers tools and solutions to help advisors propel their businesses to new heights.Eight steps to success – success or failure in this industry is largely a matter of choice.
Success or failure in this industry is largely a matter of choice. In 2010, the Life Insurance and Marketing Research Association issued a report titled “Canadian Sales Force and Retention 2009.”The report looked at the retention rate among life insurance agents joining Canadian firms and determined that after four years of service, only 738 out of 2,410 agents hired in 2006 were still under contract.
Using 2008 averages published by GAMA International, the retention rate among financial advisors was around 14% for the first four years of service. Is lack of training the problem, or is there a deeper issue at play?
In 1952, Paul J. Meyer, 24, built the largest insurance agency in North America, recruiting 820 agents in 12 months at a time when the average agency had 5 to 20 agents. He earned the equivalent of $8 million in today’s dollars. If Meyer could do this without the gadgets we have at our fingertips, could this feat be duplicated today?
It’s imperative that each goal be specific, measurable, attainable and tangible. The formulation of your goal should also be a direct reflection of your mission statement.
While computers, smartphones, and tablets have made goal trackers irrelevant for some, it would be wise to think twice before completely giving up on pen and paper. Statistics show that those who have written goals have an 80% higher success rate than those who don’t.
What benefit will you receive from achieving your goal? You can take it a step further and ask what losses will be avoided should you achieve your goal. Visualize what it will be like to achieve your goal.
There’s nothing like being prepared for an unexpected situation and having all the tools you need to deal with it successfully.
Having a step-by-step plan of action is where most will fall short.
If there are people who will be positively affected when you achieve your goal or who will keep you motivated, involve them in your planning process. You’ll benefit from all the cheerleading, encouragement and coaching along the way.
A simple Excel spreadsheet with a dashboard and chart for each goal is a great method to track and visually see your progress. Be sure to keep separate dashboards for both personal and business goals.
Use the driving force behind your goals to help propel you to where you want to be and what you want to gain from your business.
This formula is nothing new. There is plenty of training available to help with this planning, but how effective is it? Success within our industry is a combination of many factors, but the most important is attitude. The top performers all share similar habits—as do the bottom performers. To reverse the failure rate in the financial services industry, people must be willing to change their attitude.
Tyrone Matheson, FMA, is a business and personal development coach and CEO of Inside Out Training, a firm dedicated to helping individuals, organizations and their teams achieve personal and professional excellence. In addition to his monthly column in Advisor’s Edge Report, Tyrone also has a regular newsletter that offers tools and solutions to help advisors propel their businesses to new heights.Eight steps to success – success or failure in this industry is largely a matter of choice.
Success or failure in this industry is largely a matter of choice. In 2010, the Life Insurance and Marketing Research Association issued a report titled “Canadian Sales Force and Retention 2009.”The report looked at the retention rate among life insurance agents joining Canadian firms and determined that after four years of service, only 738 out of 2,410 agents hired in 2006 were still under contract.
Using 2008 averages published by GAMA International, the retention rate among financial advisors was around 14% for the first four years of service. Is lack of training the problem, or is there a deeper issue at play?
In 1952, Paul J. Meyer, 24, built the largest insurance agency in North America, recruiting 820 agents in 12 months at a time when the average agency had 5 to 20 agents. He earned the equivalent of $8 million in today’s dollars. If Meyer could do this without the gadgets we have at our fingertips, could this feat be duplicated today?
It’s imperative that each goal be specific, measurable, attainable and tangible. The formulation of your goal should also be a direct reflection of your mission statement.
While computers, smartphones, and tablets have made goal trackers irrelevant for some, it would be wise to think twice before completely giving up on pen and paper. Statistics show that those who have written goals have an 80% higher success rate than those who don’t.
What benefit will you receive from achieving your goal? You can take it a step further and ask what losses will be avoided should you achieve your goal. Visualize what it will be like to achieve your goal.
There’s nothing like being prepared for an unexpected situation and having all the tools you need to deal with it successfully.
Having a step-by-step plan of action is where most will fall short.
If there are people who will be positively affected when you achieve your goal or who will keep you motivated, involve them in your planning process. You’ll benefit from all the cheerleading, encouragement and coaching along the way.
A simple Excel spreadsheet with a dashboard and chart for each goal is a great method to track and visually see your progress. Be sure to keep separate dashboards for both personal and business goals.
Use the driving force behind your goals to help propel you to where you want to be and what you want to gain from your business.
This formula is nothing new. There is plenty of training available to help with this planning, but how effective is it? Success within our industry is a combination of many factors, but the most important is attitude. The top performers all share similar habits—as do the bottom performers. To reverse the failure rate in the financial services industry, people must be willing to change their attitude.
Tyrone Matheson, FMA, is a business and personal development coach and CEO of Inside Out Training, a firm dedicated to helping individuals, organizations and their teams achieve personal and professional excellence. In addition to his monthly column in Advisor’s Edge Report, Tyrone also has a regular newsletter that offers tools and solutions to help advisors propel their businesses to new heights.
What to do when you suspect an elderly client is being manipulated in a late-life relationship
By Allan Janssen |May 27, 2024
4 min read
Advisor shares experience plus tips for naming TCPs
By Michelle Schriver |May 15, 2024
4 min read
Assessing income sources, diversifying are key
By Jonathan Got |May 14, 2024
4 min read